MOSCOW, April 14 — RIA Novosti. The German economy will suffer hundreds of billions of euros if it abandons Russian gas, warns Bloomberg agency.
Over the next two years, provided that energy supplies from Russia are immediately discontinued, Germany and its industry are threatened with a «severe recession». In particular, production is projected to decline by EUR 220 billion, the article reads.
«The outbreak of the conflict in Ukraine will affect economic activity both on the supply and demand sides,» said Stefan Kotz, vice president of the Kiel Institute for World Economy.